Fulton Financial (NASDAQ:FULT) Given New $15.50 Price Target at Stephens

Fulton Financial (NASDAQ:FULT) had its target price decreased by Stephens from $16.00 to $15.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Stephens’ price objective suggests a potential upside of 3.40% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods raised their target price on Fulton Financial from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Thursday, January 18th. Jefferies Financial Group lowered their price objective on shares of Fulton Financial from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, StockNews.com raised shares of Fulton Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.30.

Fulton Financial Stock Up 3.9 %

Fulton Financial stock opened at $14.99 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.90. The stock has a market cap of $2.43 billion, a PE ratio of 9.31 and a beta of 0.81. Fulton Financial has a fifty-two week low of $9.64 and a fifty-two week high of $17.06. The firm’s 50-day simple moving average is $15.30 and its 200 day simple moving average is $14.90.

Fulton Financial (NASDAQ:FULT) last announced its earnings results on Wednesday, January 17th. The bank reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $271.38 million for the quarter, compared to the consensus estimate of $268.70 million. Fulton Financial had a return on equity of 11.50% and a net margin of 18.31%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. Research analysts predict that Fulton Financial will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulton Financial

Several large investors have recently modified their holdings of the business. American Century Companies Inc. grew its stake in Fulton Financial by 16.0% in the 3rd quarter. American Century Companies Inc. now owns 1,682,119 shares of the bank’s stock valued at $20,370,000 after buying an additional 232,462 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Fulton Financial by 76.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 158,034 shares of the bank’s stock valued at $1,914,000 after purchasing an additional 68,600 shares during the period. Neo Ivy Capital Management lifted its holdings in Fulton Financial by 519.7% during the 3rd quarter. Neo Ivy Capital Management now owns 20,040 shares of the bank’s stock worth $243,000 after purchasing an additional 16,806 shares in the last quarter. Northern Trust Corp boosted its stake in Fulton Financial by 0.4% in the 3rd quarter. Northern Trust Corp now owns 1,879,238 shares of the bank’s stock worth $22,758,000 after purchasing an additional 8,292 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Fulton Financial by 91.0% during the 3rd quarter. SG Americas Securities LLC now owns 143,292 shares of the bank’s stock valued at $1,735,000 after buying an additional 68,286 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Fulton Financial Company Profile

Fulton Financial Corporation operates as a financial holding company that provides consumer and commercial banking products and services in Pennsylvania, Delaware, Maryland, New Jersey, and Virginia. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts.